Cost of homes for first time buyers in south east revealed

The cost of buying a home if you’re a first time buyer has been revealed in latest statistics on the housing market.

First time buyers pay £278,749 for a home in the south east compared to £212,079 for a home in the UK.

In the north east the average first time buyer will pay £126,437.

The cheapest place in the UK to buy a first home is in northern Scotland where the average price is £126,437.

The data, from www.sellhousefast.uk, also reveals 365,000 people bought their first home in 2017 – an increase of 7.4 per cent from 2016 and the highest since the financial crisis in 2007/08; the average deposit paid for a first home was £1,094 in 1977, £2,200 in 1997 and

£25,867 last year and unsurprisingly London is the most expensive place to buy your first home.